California has long been hailed as the land of innovation and opportunity, but now, the state is at the center of a heated debate over wealth, fairness, and the future of its economy.
Democratic lawmakers and a major healthcare workers’ union are pushing a controversial wealth tax on the state’s billionaires to address income inequality and fund healthcare. They say the revenue from the tax is needed to offset the cuts caused by President Donald Trump’s tax bill and argue hospital closures and job losses could be on the horizon if the state doesn’t see a mass infusion of cash.
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